<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

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The extent of the decline of property values in places like Port Douglas, Cairns and the Gold Coast, where close to one in five properties have lost up to 10% of their value since being purchased, has been revealed in the latest RP Data Value Accumulation Report for the March quarter.



Previously called the Equity Report, it shows that nationally, the housing market remains a solid medium- and long-term investment, with only 5.4% of Australian homes currently valued at either less or the same amount as what they were purchased for – an improvement from 6.1% of homes recorded at the end of the December 2011 quarter.



Conversely, more than 41% of Australian homes are worth more than twice what their owners originally purchased them for.



However, the report reveals the struggles facing Queensland regional and coastal areas not feeling the benefits of the resources boom.



According to RP Data, nearly one in five homes (19.9%) in tropical Far North Queensland are now worth less than or the same as their previous purchase price – nearly four times higher than the national rate. 



This region includes heavily tourism-dependent places like Cairns and Port Douglas on the coast and inland, the Atherton Tablelands, which have been hit by the high Australian dollar and a spate of natural disasters.



The struggling Gold Coast market is second on the list (16.8% of homes not appreciating in value) followed by the state’s other struggling coastal market, the Sunshine Coast (14.3% of homes).



The Gold Coast and Far North also have the lowest proportion of properties worth double the initial purchase price at just 30.3% of all homes.



<img width="468" height="206" src="/images/stories/2012/greatestpercentdwelling.jpg" alt="greatestpercentdwelling">

 

Over the March quarter, the report found that the instances of negative value accumulation or stability has fallen in most regions of Queensland, but the greatest declines had been recorded in West Moreton (-2.7 percentage points), Far North (-2.0 percentage points) and Gold Coast (-1.9 percentage points). 



The list of those regions that have recorded the greatest percentage of dwellings worth less than or equal to their purchase price also includes lifestyle markets in Western Australia, Richmond-Tweed in New South Wales and Wide Bay-Burnett in Queensland. 



RP Data research analyst Cameron Kusher says this is reflective of the weaker market conditions across many lifestyle regions. 

In contrast, Victoria and Melbourne, have had the greatest level of value accumulation of any state or capital city.



This has been helped by the fact that Victorian and Melbourne properties tend to be owned for a longer length of time than homes in other parts of the country – 9.3 years in Melbourne, the highest hold period across Victoria.



In contrast, Queensland and South Australia, properties tend to have a higher turnover and subsequently, value accumulation in these states has generally been lower than in other states.
The report found that just 3.3% of Victorian homes and 3.5% of Melbourne homes are valued at the same or less than their purchase prices - better than NSW (3.9%) and Sydney (3.6%), the next best performing state and capital city markets.



This is up though from 2.8% of Sydney homes worth less than or equal to their initial purchase price recording at the same time last year - highlighting the impact on value accumulation that the fall in home values has had over the past year.



Victoria (50.3%) and Melbourne (51.6%) also have the highest proportion of homes that have doubled in value since being purchased, significantly higher than NSW (37.8%) and Sydney (37.2%).


Across Queensland, 9.6% of homes are worth less than or equal to their initial purchase price while 36.6% of homes are worth more than double their initial purchase price. 



At the end of the corresponding quarter in 2011, 3.7% of Queensland homes were worth less than or equal to their initial purchase price and 40.3% of homes were worth more than double.



Across South Australia, 6.5% of homes are worth less than or equal to their initial purchase price compared to just 2.1% of homes at the same time in 2011.



In Western Australia 6.8% of homes are worth less than or equal to their initial purchase price compared to just 3.5% of homes at the same time in 2011. 



Around 44.7% of Tasmanian homes and 44.6% of Hobart homes have doubled in value since their last purchase – the second best state and capital city housing markets on this measure.




However, the weaker Tasmanian market has been reflected in that proportion of Tasmanian homes now worth less than or equal to their initial price has nearly doubled from 3.1% to 6% since March last year. 



Over this same period, the proportion of Tasmanian homes worth more than double their initial purchase price has fallen from 48% a year ago to 44.7% in March 2012. 



The report measures the difference between the original purchase price and the current estimated value for over 8 million residential properties across the country. 

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Queensland’s tropical Far North and Gold Coast housing markets worst at accumulating value: RP Data

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<img alt="Seven-Palms-Sentosa-Cove" src="/images/stories/2012/Seven-Palms-Sentosa-Cove.gif" height="225" width="400">
The mining tycoon Gina Rinehart has reportedly secured two luxury Singapore apartments – getaways rather than permanent abodes – with Singapore’s Business Times newspaper suggesting the purchases were in the Seven Palms Sentosa Cove condominium.
The 41 apartment complex, scheduled for completion this year, has been designed by the Perth-born architect Kerry Hill. It's an upmarket waterfront residential district with the apartments in the four-storey project facing either the Tanjong Golf Course at Sentosa Golf Club or Tanjong Beach.
The project – marketed as Singapore's only beachfront residence – was launched in 2009 with its off the plan sales setting record prices. Its due for completion next year.
<a href="https://www.businesstimes.com.sg/premium/top-stories/sentosa-condos-sold-aussie-buyer-57m">The newspaper</a> has reported an entity linked to Hancock Prospecting was paying about $S23.3 million for a third floor unit and $S33.9 million for one on the fourth level.
<img alt="784" src="/images/stories/2012/784.gif" height="225" width="400">
It suggests the island city state, which has low income taxes, is fast becoming a haven for wealthy investors, as it follows the east coast mining tycoon Nathan Tinkler making Singapore his clean environment home-base earlier this year.
Rinehart has previously praised Singapore's way of doing business, noting that Singapore welcomed investment, made real efforts to minimise red tape, enabled guest labour, had low taxes and low crime, and had no debt.
Hancock Prospecting and SC Global have declined to comment on the report.
Seven Palms is the project of SC Global, a luxury property developer founded in 1996 by former banker Simon Cheong. Forbes magazine reported Cheong, who grew up in Singapore, got his M.B.A. from George Washington University in the US and took his first job in investment banking in 1983.
In February, the AMFraser Securities stockmarket analysis on SC Global noted the sales rate of Seven Palms was at 24% sold. It forecast that luxurious residential sales would remain tepid, compounded by the government slapping an additional 10% buyer stamp duty on foreigners buying residential properties. SC Global, which was responsible for the The Marq on Paterson Hill, a boutique Singapore highrise, owns 50% of the middle market Australian builder, AVJennings.
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Gina Rinehart splashes out in Singapore: Title Tattle

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It's perhaps not the most lavish, but this is the home cinema in Australia's priciest sold compound. Property Observer ranks its as the sixth best home cinema among recent listings. The iron ore heiress, Angela Bennett, had this deluxe cinema in her $57.5 million Mosman Park property in Perth. In 2009, she sold the property to fellow mining magnate, Chris Ellison, who set up Crushing Services International, which built and operated ore-crushing plants for mining companies.
The 7,567 square metre riverside mansion has three buildings, a private jetty, a wine cellar, luxurious wood-panelling throughout, a gym, an indoor swimming pool and a tennis court.
Hollywood stars pictured on the walls here include Marilyn Monroe, Peter O’Toole, James Dean, Vivien Leigh and Clarke Gable, suggesting Bennett's tastes were more Hollywood glamour than current day celebrity.
The tiered leather sofas here all look towards a massive projection screen framed by wood panelled cupboards and golden tinged curtains. Just behind the front sofa, hidden from view is a table to rest meals cooked in the well-appointed kitchen or just a few Manhattan cocktails.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/07/bennettsmansion470.jpg" alt="bennettsmansion470" width="470" height="353">
 
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The Swan River, Mosman Park home cinema in Australia's priciest sold residential compound

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{yoogallery src=[images/stories/august19block39]}

The Richmond cottage renovated by Polly and Waz on The Block 2011 has been leased at $975 a week.
It was the Cameron Street cottage that sold at $855,000 under the hammer to the buyer’s agent Frank Valentic at its televised August 2011 Block auction.
He recently tweeted that the Advantage Property Consulting agency’s property management team had achieved a “fantastic” for the landlord.
“We have just re-leased Polly and Wazza's property for our investor client for $975 per week. Fantastic 10% return including depreciation,” he tweeted.
His yield calculations are not the normal method as most landlords would not include depreciation outcomes within their immediate calculations.
This time last year he noted he’d achieved a rental of $995 per week fully furnished, which with around $40,000 in the building, chattel and furniture depreciation, he suggested reflected a 9.2% return in an unusual method of calculating yields.
Last year Valentic advised Property Observer that the 9.2% was its approximate gross rental yield after taking into account the estimated depreciation although its then $995 asking rent actually reflected a 6.05% typical gross yield.
The drop in rent from $995 to $975 was against the backdrop of the rental vacancy rate easing from 1.5% to 2% vacancy over the past year, he suggssted.
"Our owner was happy to bring back the rent as there are less corporate rentals going around with our shaky worldwide economy," he told Property Observer.
Valentic suggested the client investor planned to hold on to the property for five to seven years and anticipated good capital growth.
Two other cottages on <a href="/news">The Block</a> Richmond strip have been up for recent rent with new tenants being sought by the investors.
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The Richmond cottage renovated by Polly and Waz on The Block 2011 has been leased at $975 a week

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{yoogallery src=[images/stories/2012/07/Forte]}

Despite sunny conditions in Docklands, high winds again temporarily put a halt on construction work on Lend Lease’s timber high-rise development Forte.
Workers took refuge in a makeshift wind shelter but there’s no ignoring their hard work over the last few weeks.
In week eight of construction the building has hit new heights, with work starting on the seventh floor.
The building, set to be the tallest timber residential tower in the world, uses technology developed in Europe.
The building is made from cross-laminated timber, an engineered wood product fabricated by bonding together timber boards, alternating the grain direction of each layer. The criss-cross pattern works to produce a solid wooden panel.
A project director for British company Eurban which supplies CLT services, Philipp Zumbrunnen spoke at a Lend Lease seminar recently.
''It's a sort of jumbo ply. The glued, crossed pattern is very stable,'' Zumbrunnen says.
''CLT is less a wood product, more a building system.''
He says unlike glued laminated timber where several layers of timber are glued together in one direction, CLT does not warp as much.
Forte will reach 10-storeys but Zumbrunnen says there’s no reason the system can’t be used on buildings of 10-20 storeys.
He says his company undertook a feasibility study for a 19-storey tower in London but the developer pulled out.
{module Would you buy an apartment in a timber building?}
To view the building's progress from previous weeks click here. 
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Winds briefly stop Forte's jumbo ply timber construction

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Persistent and widespread weakness in the home-building market had put the new home construction sector in recession - triggering the highest availability of skilled labour since at least 2002, according to HIA’s latest report.
The HIA Trades Report found a significant increase in the availability of skilled labour in the June 2012 quarter.
“Tens of thousands of tradespeople are feeling the pressure of persistently weak residential building activity, while the loss of skilled labour to the resources sector will intensify the longer recessionary conditions persist,” says HIA’s Harley Dale.
He called for government policy to support the sector.
“Governments have a crucial role to play in delivering investment and reform to boost housing activity. Furthermore, now is the time, during cyclical weakness, for policy makers to accelerate reform and investment in skills and training to avoid labour re-emerging as a constraint on a future housing recovery.”
He says the climate is good for homebuilders with increasing competition between labourers.
The HIA Trade Availability Index was at +0.20 for the June 2012 quarter, meaning that trades were in moderate oversupply, while the HIA Trade Prices Index eased by 0.7%, putting it at just 0.1% growth for the year.
The report is a quarterly measure of trade prices and availability on a capital city and rest of state basis for 13 different trade categories in the five largest states.
If you're thinking of buying a house and doing your own plastering, read our free ebook on<a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-buying-house-and-land-packages-what-investors-need-to-know"> buying a house and land package</a>.
<img src="/images/stories/2012/Snapshot_2012-07-26_14-30-30.jpg" alt="Snapshot_2012-07-26_14-30-30" height="238" width="469">
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Trade availability at highest levels – especially plasterers – since at least 2002: HIA

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Tenders close tomorrow for 333 hectares of vineyards in the Coonawarra wine-growing region of South Australia, most famous for Cabernet Sauvignon and Shiraz wines.
Up for sale is the Coonawarra Premium Vineyards (CPV) Project No. 1 &amp; 2, a subsidiary of the Coonawarra Australia Property Trust.
There are 309 hectares of planted vineyards on six titles  with red varieties – Cabernet Sauvignon, Shiraz and Merlot – constituting around 85% of total plantings along with smaller parcels of white grapes: Chardonnay, Semillon and Sauvignon Blanc.
Also up for sale is a contemporary masonry residence, currently used as an office, temporary accommodation and staff amenities, a number of sheds and 16 iron clad pumping stations which serve both to irrigate the vines and to provide water for frost protection.
The Coonawarra Australia Property Trust was placed in receivership in March this year, with its shares suspended from trading on the ASX at the same time.
John Hart and David Kidman of Ferrier Hodgson were appointed as receivers, including the CPV property with land title documents showing a mortgage to the Commonwealth Bank.
The vineyards are being sold on behalf of the receivers with the sales campaign led by Tim Altschwager and Nick Dean from Colliers International Rural and Agribusiness Wine Industry specialist practice.
Altschwager says no price guide has been given, but “similar vineyards in the Coonawarra area have recently attracted figures in excess of $20,000 per vine area".
“We expect quality vineyards planted to premium varieties to attract figures well in excess of that rate,” Altschwager tells Property Observer.
Coonawarra is one of Australia’s most renowned wine regions and is acclaimed internationally for its Cabernet Sauvignon and Shiraz wines, which thrive in the cool and sunny climate and in the famous terra rossa soils.
The CPV portfolio comprises two contiguous vineyards, which may be operated separately, having separate infrastructure and water entitlements, are currently operated as one operation.
Historically Coonawarra produces around 40,000 tonnes of fruit per annum out of the 100,000 tonnes produced in the Limestone Coast zone, second largest producer in South Australia after the Riverland Zone.
Premium wines produced in the Coonawarra region are all represented in a tight strip along the Riddoch Highway and include Wynns, Penfolds, Petaluma, Katnook Estate, Lindemans, Orlando, Bowen Estate, Balnaves, Zema Estate, DiGiorgio Wines, Hollick Wines and Majella.
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Tenders to close for premium Cabernet Sauvignon and Shiraz Coonawarra vineyards 

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Cosmetic surgeon and hotel tycoon, Jerry Schwartz, is reportedly close to buying the troubled Crowne Plaza Hunter Valley for $45 million.
Colliers have confirmed the sale, saying they received 10 validated expressions of interest in the property.
The hotel in Lovedale, the NSW Hunter Valley district town, has been in receivership with Ferrier Hodgson since 2010, with the current listing going up in May. After being listed since 2010, it was taken off the market in October after bids came in below the $50 million expectations.
It is being sold with possible vacant possession but Schwartz has reportedly struck a deal with current operators InterContinental Hotels Group, who run some of Schwartz’s other hotels.
Two hours north of Sydney, the 4.5-star resort first opened in 2006. It comes with 150 hotel rooms, 169 strata-titled two- and three-bedroom villas, an 18-hole golf course, an award-winning restaurant, and gym and conference facilities. The property also comes with 41 hectares of cleared land.
The report of Schwartz’s interest in the property originally came from the Australian Financial Review.
The property was placed into receivership in early 2010 by National Australia Bank. Chinese construction firm Hightrade Constructions Pty Ltd and two associated entities had borrowed tens of millions from NAB to build the hotel but later ran into financial difficulty.
Hightrade were the subject of criticism after failing to pay millions of dollars to sub-contractors on their other Hunter projects and later being involved in a $130 million battle with the Australian Tax Office.
The hotel has reportedly also attracted interest from Chinese buyers who have targeting wineries in the Hunter Valley.
Jerry Shwartz is the son of Hungarian dentist turned property investor turned property magnate, Bela Schwartz. After emigrating to Australia in 1938 he starting buying up properties and building a portfolio. He founded The Schwartz Family Company, and after the death of his wife Eva started consolidating his assets. Jerry controls the company now and has been building the property portfolio extensively.
The company currently owns 10 hotels across Australia and is worth more than $200 million.
Jerry Schwartz has recently made a habit of buying up struggling properties near Sydney.
Most recently he bought the Fairmont Resort in the Blue Mountains from receivers for $26 million – about half what it traded for in 2006. He then undertook a $10 million renovation.
According to sales documents the hotel is forecast to make $26 million in revenue for the 2012 financial year. Before tax and depreciation this is expected to earn the owner $2 million. The expected revenue per available room is $111 RevPAR.
The property has been marketed by Colliers International agents Matthew Meynell and Steam Leung.
<img alt="crowneplaza" src="/images/stories/2012/crowneplaza.gif" height="225" width="400">
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Jerry Schwartz set to buy Crowne Plaza Hunter Valley

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There's a less optimistic property industry outlook for the September quarter on heightened global economic uncertainty, the Property Council of Australia-ANZ Property Industry Confidence Survey shows.
The survey polled more than 3,100 professionals from the property and construction sector in all states and territories for their forward-looking views.
The weakened confidence was weighed down by heightened concerns about the outlook for the economy and the impact on construction activity.
The survey also revealed increased concerns about the availability of debt finance to fund activity over the next year, reflecting the impact of increased financial market volatility on the cost and availability of debt finance.
The property industry confidence index decreased byseven points in the September quarter (106 compared to 113 in the June quarter).
 The ACT recorded the biggest shift in sentiment, dropping by 16 points on the index – and at 85 on the index the ACT has the lowest confidence of any state or territory (100 is considered neutral).
Tasmania has the second-lowest score, at 86 on the index, but it increased by 13 points over the quarter.
SA and ACT were the states or territories to shift from positive to negative over the period.
 The Property Council chief executive, Peter Verwer noted there had been a sudden, downward shift in sentiment in the sector following three consecutive periods of increasing sentiment nationally.
The biggest loser in the September quarter was the office sector, which dropped from 111 to 104 on the index. However, this sector retains the second-highest score of any asset class. He noted every property asset class had recorded a downward trend in sentiment for price growth, a sharp turn-around from the previous quarter in which sentiment for price growth expectation was positive for all asset classes except for shopping centres.
 However the  ANZ chief economist, Warren Hogan, says market fundamentals suggest the broader commercial property sector may be at the early stages of a multi-year cyclical upswing.
<img alt="image001" src="/images/stories/2012/image001.png" height="305" width="470">
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Property industry confidence index declines everywhere but already bleak Tasmania

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Brisbane house prices fell by 1.3% in the June quarter to a median of just under $428,000 – the lowest reading since December 2008 and the eighth straight quarter that house prices have fallen – according to the latest quarterly figures from Australian Property Monitors (APM).
The decline in Brisbane house prices, which dates from the June 2010 quarter, came on the back of a very buoyant market with Queensland one of the last housing markets to feel the effects of the GFC.
The housing market took another battering following the January 2011 Brisbane floods and other natural disasters in the state.
Brisbane remains the most affordable mainland capital city detached housing market, below Adelaide, where house prices remained unchanged over the June quarter at a median of $436,000.
Year-on-year, Brisbane house prices have fallen 3.7% since June last year, more than Melbourne's 2.6% year-on-year decline, with Adelaide (- 2.1%) and Sydney (-1%) also recording smaller 12 month declines.
Brisbane unit values declined more steeply over the June quarter – down 1.7% to a median of $356,744 – but are down a more modest 0.8% over the 12 months to June, compared to house prices.
APM recorded a Brisbane auction clearance rate of just 29% last weekend.
<img alt="brisbane-median-price" src="/images/stories/2012/brisbane-median-price.gif" height="225" width="400">
Both RP-Data and Rismark have the Brisbane housing market well down over the 12 months to June – with their data pointing to an even steeper annual decline.
However, RP Data-Rismark reported a 0.9% gain in Brisbane house prices in the month of June to a median of $435,000 – suggesting the market may have begun to finally turn around.
RP Data-Rismark has Brisbane house prices down by 4.9% for the year.
Residex says Brisbane house prices fell 2.37% in June, 3.75% over the June quarter and are down 6.5% for the year with a median value of $412,500.
The Real Estate Institute of Queensland (REIQ) reported an easing in the Brisbane rental vacancy rate over the June quarter to 2.1% from 1.7%, although the inner city suburbs remain tightly held at just 1.6% “with property managers from REIQ accredited agencies reporting some rent increases taking place, especially for houses, due to stronger demand”.
The REIQ has Brisbane house prices down 4.7% over the March quarter to a median of $505,000 and has yet to release June quarter results.
According to Dr Andrew Wilson, senior economist at APM, Brisbane house prices are showing no signs of price growth at this stage and the market is likely to fall further.
He says the recent performance is somewhat “counterintuitive” given that recent ABS housing finance figures show that the value of investor loans approved over the first five months of the year rose 31% in Queensland.
“Brisbane is suffering from a lot of stock that needs to be absorbed,” Wilson says.
“There is not much competition for properties. This will only increase when the amount of residential stock listed for sale comes down.”
According to RP Data, Brisbane residential listings fell 3.5% for the year to July 8.
SQM Research recorded a 4.4% year-on-year decline in Brisbane residential stock-on-market to end of June, but recorded a 3% rise over June counting 30,080 property listings.
Wilson says there are positive signals of longer-term recovery for Brisbane including stronger population growth in South East Queensland due to people chasing higher wage growth in the state (off the back of mining activity).
“But I don’t see the bottom of the market yet,” he says.
Noting the volume of apartment projects underway in the inner Brisbane suburbs (there are more than 40 at various stages of development at present), Wilson says there is growing demand for inner city Brisbane living.
However, given that it’s an emerging new market, he says it will take time to gain traction.
“It took decades for the Melbourne inner city market to gain traction and we are still seeing prices coming down.”
"The Brisbane inner city market is on watch."
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